Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Here’s What Happened

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.02, but opened at $5.34. Birchcliff Energy shares last traded at $4.96, with a volume of 8,623 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BIREF shares. BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating in a research note on Monday, December 15th. Canadian Imperial Bank of Commerce lowered shares of Birchcliff Energy to a “neutral” rating in a report on Thursday, January 15th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Birchcliff Energy has a consensus rating of “Buy”.

Birchcliff Energy Stock Performance

The company has a 50 day simple moving average of $5.19 and a 200 day simple moving average of $4.88. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 31.81 and a beta of 0.44.

Birchcliff Energy (OTCMKTS:BIREF) last announced its earnings results on Wednesday, February 11th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $141.66 million during the quarter, compared to the consensus estimate of $138.97 million. Birchcliff Energy had a net margin of 8.86% and a return on equity of 2.81%.

About Birchcliff Energy

Birchcliff Energy Ltd. (OTCMKTS: BIREF) is a Canada-based exploration and production company headquartered in Calgary, Alberta. Since its founding in 2000, Birchcliff has focused on developing natural gas, natural gas liquids and light oil resources in Western Canada. The company is publicly listed on the Toronto Stock Exchange and the OTC Markets and maintains an integrated asset base to support its upstream and midstream activities.

The company’s core operations are concentrated in the Montney formation of northeastern British Columbia and northwestern Alberta, one of North America’s largest unconventional resource plays.